Strategic focus areas
STRATEGY AND KEY IMPERATIVES
Strategic clarity is key to the Group’s goal to deliver sustainable value for all stakeholders.
The Group's five-year strategy is developed and implemented through an effective decision making framework and is reviewed annually in terms of its relevance to evolving external and internal conditions. The Board is responsible for setting clear strategic direction, while management is held accountable for delivering measurable results.
Subdued demand and increased competition resulted in a decrease in sales volumes, which impacted the ability of manufacturing to operate efficiently without full loading.
Procurement of equipment to expand range offering from Gryphon underway.
Continued to curate range across several merchandise categories.
Our priority is to remain market leaders in product range, as well as improve marketing initiatives to ensure customers are aware of our value and fashion offering.
Instil high-performance culture
Leadership effectiveness
Optimise employee engagement
Graduates from the CTM Future Leader Programme and TopT's Management Training have performed well in operations. The programmes will continue to be run and improved.
Commenced project to restructure Human Capital function to improve efficiency and impact.
Entrenched culture of setting, measuring and performance monitoring of KPIs.
Good progress made on rebuild of management teams at Ceramic and Ezee Tile.
The engagement score improved to 76%, remaining at a high level. We are satisfied with this score, given the prevailing low levels of confidence in the country at present and the Group's weaker results.
Webstore sales contribution increased in 2024. We continued with initiatives to improve digital content, web user interface, search engine optimisation and conversion success rate. Integration of digital marketing focus to drive webstore visits has been improved with a dedicated resource.
U-Light stores closed, with four stores opened and five closed in the other retail brands.
On hold given the oversupply in the market.
On hold until investment conditions improve in global markets, and core South African operations improved.
2,7 MW installed at Gryphon and fully operational for the full year. 2 MW installed at Samca Wall in 2024. Energy wheeling opportunities are being explored.
Suitable contracts and alternates to replace Sasol gas under consideration with IGUA-SA and other industry players. Gas cliff moved out to June 2027 by Sasol.
Implementation of coal-based synthetic gas solution pilot project approved by Board.
Viability of creating a power island at one site to self-generate enough electricity to be independent from the electricity grid is being assessed.
No suitable acquisition targets were identified in the year under review and it is unlikely that the Group will actively pursue this imperative in the short to medium term.
